Interactive Brokers partners with Paxos to introduce crypto trading
Interactive Brokers has become the latest company to launch cryptocurrency trading through a partnership with blockchain infrastructure platform Paxos as institutional demand for the asset class grows.
Through the partnership with Paxos, clients will be able to trade and hold cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as existing asset classes including stocks, options, futures, bonds. , mutual funds and ETFs through a unified platform of the global brokerage firm. .
The new cryptocurrency trading capabilities will initially be available to residents of the United States with individual or joint accounts with plans to roll out to other types of clients in other parts of the world in the future.
“As financial markets evolve, sophisticated individual and institutional investors are increasingly looking for digital currency allocations as a way to achieve their financial goals,” said Milan Galik, Managing Director of Interactive Brokers.
“By giving our clients access to cryptocurrency trading, we recognize the need to meet the growing demand from investors to trade cryptocurrencies alongside other asset classes in a convenient and inexpensive manner. “
Interactive Brokers is the third firm to confirm the launch of a cryptocurrency-focused offering last week after Brevan Howard and Jump Trading Group also confirmed that they will launch crypto-focused divisions to meet growing demand. client.
“Consumer interest in accessing digital assets through trusted intermediaries is driving change in the financial industry. Paxos provides the regulated blockchain infrastructure to ensure that businesses can enable crypto safely and with reduced risk, ”said Charles Cascarilla, CEO and co-founder of Paxos.